Ormsby & Rhodes (Dublin) - An overview of the 2021 Irish Budget
Published on October 15, 2020
A summary of the main features announced in the Irish Government Budget 2021 is available from Ormsby & Rhodes HERE.
A truly historic Budget involving Fianna Fáil, Fine Gael and the Green Party is marked by huge spending increases. A record Budget of €17.75 billion has been announced with nearly half of all spending going on Covid-19 supports which has been framed by the pandemic and the prospect of a no-trade deal Brexit.
The coronavirus pandemic has been the greatest challenge to face the country since it gained independence, Minister for Finance Paschal Donohoe said as he unveiled Budget 2021.
Businesses hit by restrictions will get rebates along with measures for the hospitality sector and homebuyers.
There were very few changes on the personal tax front, something many will be grateful for however, given the ongoing uncertain economic outlook.
There was an increase in the earned income credit for the self employed from €1,500 to €1,650 to bring it into line with PAYE workers.